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Former FBI Director William H. Webster, 76, who ran the bureau under Carter and Reagan and the Central Intelligence Agency under Reagan and Bush, has consented to lend a little of his luster to FBI Director Louis Freeh, who is struggling to dispel the taint of the FBI's worst spy scandal. As head of an inquiry into the intelligence disaster, Webster says sympathetically that decades of experience have taught him one thing: "There is no absolutely fail-safe setup that will quickly and immediately identify a good man or woman who goes sour. So our focus will...
Getting ahead in Africa is tough. Banks lend money only to the middle class and the wealthy. Poor Africans--meaning most Africans--stay poor. It's even harder if you're sick. Without savings to fall back on, many HIV-positive parents pull their kids out of school. They can't afford the fees and end up selling their few possessions to feed the family. When they die, their kids are left with nothing...
...realize that after reading this week's Cover Story, you may want to do something. Working with Netaid.org an arm of the U.N. using the Internet to help those in trouble, TIME has developed opportunities to lend a hand. You can contribute by visiting Netaid.org This is not our first project. In the past two years, TIME readers have saved mothers' lives in Rwanda, found homes for orphans in Africa and helped Sierra Leonean war wounded get medical treatment. If you prefer to send a check, an address is available on the Netaid site. AOL members can go to keyword...
...buyout game is more complicated today. The typical LBO has three layers of financing--equity (put up by the buyer), senior debt (borrowed from a bank), and junior debt, or junk bonds (most often provided by junk-bond mutual funds). Banks are reluctant to lend for speculative buyouts with the economy slowing, though the Fed's rate cuts are easing that condition...
...place. Eager to keep impressing Wall Street with steroidal growth numbers and counting all manner of nascent start-ups and emerging companies among its potential customers, Lucent apparently developed a habit over the years of goosing up its sales with so-called vendor-financing arrangements, in which Lucent would lend customers the money to buy equipment and sometimes install...